Good supplier prequalification practices to avoid risks

The supplier pre-qualification process allows making the right decisions in the short and long term, through pre-procurement evaluations. Reliable data and specific software are essential for an in-depth analysis of each potential supplier's capabilities.           

What is supplier prequalification?

Supplier pre-qualification is an initial evaluation process that determines whether a potential supplier meets the basic requirements to be considered for future contracting. This process includes a review of the supplier's financial, technical and operational capacity, as well as its history of compliance with regulations and quality standards.

Prequalification allows filtering out suppliers that do not meet the minimum criteria, focusing resources on those that are most likely to become reliable and efficient partners. It also facilitates a faster and more efficient response to the company's needs, since pre-qualified suppliers have already been evaluated and approved in advance. 

Prequalification is an essential tool for managing risks and ensuring a reliable and high quality supply chain.

Why should suppliers be evaluated?

Evaluating suppliers is essential for any company wishing to maintain a high quality operation. Not only does this assessment ensure that the products and services supplied meet the required standards, it also enables companies to identify and manage risks, improve supplier relationships and ensure a continuous supply chain. The following are the key reasons for conducting this assessment:

• Ensures that products and services meet established quality standards.
• Allows quality problems to be identified and corrected before they affect the operation.
• Helps identify and mitigate risks associated with dependence on specific suppliers.
• Reduces the possibility of supply chain disruptions.
• Ensures that costs are competitive and the best value is obtained for the resources invested.
• It allows negotiating better terms and conditions, based on the supplier's capacity.
• Verify that suppliers comply with all applicable regulations and standards.
• Helps to avoid legal problems and penalties.
• Promotes a collaborative relationship with suppliers to continuously improve products and services.
• Incentivizes suppliers to innovate and offer more efficient solutions.
• Ensures that the products and services provided meet the expectations of end customers.
• Contributes to maintaining and improving the company's reputation in the market.

What information is needed to qualify suppliers?

In order to qualify suppliers, it is essential to gather detailed information about their capabilities. General information about the company, such as its history, organizational structure, financial stability and industry experience, should be obtained to help assess the strength and reliability of the supplier.

In addition, it is crucial to assess the supplier's technical capability, including reviewing their production processes, technology used and staff competencies. Conducting audits or visits to their facilities can provide a clear picture of their ability to meet specific requirements and maintain quality over the long term.

It is important to analyze the quality of service offered by the supplier, including the timeliness of deliveries, the accuracy of orders and the effectiveness of customer service. Obtaining feedback from other customers and reviewing performance metrics, such as defect rate and response time, are essential steps to ensure that the supplier can meet our needs efficiently.

Hiring a pre-qualified supplier has many benefits

Hiring a pre-qualified supplier offers numerous benefits, starting with the assurance of quality and reliability. Having undergone a rigorous evaluation process, these suppliers have already demonstrated their ability to meet the company's specific standards and requirements, which significantly reduces the risk of supply chain failures.

In addition, working with pre-qualified suppliers streamlines the contracting and negotiation process. The trust established allows for more efficient communication and smoother collaboration, which facilitates the implementation of continuous improvements and the development of solid, long-lasting business relationships.

Use digital tools for supplier prequalification

Using digital tools for supplier pre-qualification offers greater efficiency and accuracy in the process. Dokify allows you to collect and analyze large volumes of data quickly, evaluating financial, technical and compliance aspects of suppliers. In addition, it facilitates the comparison of multiple suppliers using standardized metrics, improving decision making. 

Dokify also enables supplier homologation and continuous monitoring of the supplier's work, ensuring that the required standards are maintained over time. This technology optimizes the pre-qualification process, reduces risks and strengthens the company's supply chain. If you want to learn more about the advantages of Dokify for supplier prequalification, contact our team.